Insuring an apartment in Georgia is cheap and covers exactly the risks that actually happen here: a flood from the neighbours in an old building, fire, an earthquake. A policy is rarely discussed at the point of purchase, which is a pity — the annual premium is comparable to a single utility bill, and without one any leak becomes entirely your problem.
- Price: roughly 200–800 GEL a year depending on the value of the property; basic cover for a modest flat can be found from 100 GEL.
- What is covered: fire, flooding, earthquake, third-party liability.
- The main everyday risk in Tbilisi is not an earthquake but a burst pipe in a Soviet-era building.
- The main insurers: Aldagi (over 40% of the property insurance market), GPI, TBC Insurance.
- With a mortgage the policy is mandatory — the bank requires it as a condition of the loan.
Why it matters here specifically
Two features of the local housing stock make insurance a sensible purchase.
First, the old buildings. A large share of Tbilisi apartments sit in Soviet-era blocks where the utility lines have been replaced only selectively. A burst pipe and a flood into the flat below is the most common claim, and the damage runs both ways: your renovation and someone else's.
Second, seismicity. An earthquake is a rare but real event for the region, and it is precisely what turns insurance from a "just in case" purchase into protection of your main asset.
If you have just finished a renovation worth a quarter of the apartment's price, a year of cover costs less than one day of the builders' time. This is a case where the arithmetic is obvious.
What the policy covers
| Risk | What it means in practice |
|---|---|
| Fire | Damage to the structure and finishes, often with smoke damage too |
| Flooding | Leaks, burst pipes, an accident at the neighbours upstairs |
| Earthquake | Structural damage — the region's key risk |
| Third-party liability | You flood the neighbours and the insurer pays them, not you out of pocket |
| Contents | Furniture, appliances, finishes — usually a separate part of the cover |
Keep two objects of insurance apart: structure and finishes are one thing, contents are another. A cheap policy often covers only the first, and after a flood it turns out the furniture and appliances were never included.
What it costs
The annual premium depends on the value of the property, its size, the district and the claims history. Market benchmarks are 200–800 GEL a year; for basic cover of an inexpensive flat you will see figures from 100 GEL.
In dollar terms that is tens of dollars a year — less than a month of utilities in the heating season. How utility bills work is covered in our article on utilities.
Who insures
The market is concentrated, which simplifies the choice.
Aldagi
The largest player specifically in property cover. Comparisons usually start here, both for portfolio size and for well-established claims procedures.
GPI and TBC Insurance
Both offer property policies alongside health and motor cover. If you already have an account or a mortgage with an affiliated bank, arranging and paying is simpler and package terms sometimes apply.
If the apartment is rented out
For a landlord the logic shifts in two places:
- Third-party liability matters most. A flood originating in your apartment remains your responsibility as the owner, even if it was the tenant who forgot to turn off the water.
- Contents. If the flat is let furnished, include furniture and appliances in the cover — otherwise half the point is lost.
Separately, state in the lease who is responsible for what: it does not replace a policy, but it removes the "whose fault was it" argument after an incident. The lease itself and rental taxes are in renting out an apartment, and disputes in rental conflicts.
Mortgage and insurance
If the apartment was bought with a mortgage, insuring it is not your choice but the bank's requirement. Life insurance for the borrower is sometimes added. Both payments form part of the total cost of credit and must be counted when comparing offers — see our article on mortgages.
How to choose a policy
- Check what is included: structure, finishes, contents, third-party liability.
- Look at the deductible — the share of the loss you pay yourself. A low premium often means a high deductible.
- Clarify the limits for each risk: the total sum insured is not the same as the payout for a specific event.
- Ask about exclusions: worn-out utility lines, works without a permit, long absences from the apartment.
- Set the sum insured realistically: it should match the cost of restoring the property, not what you paid for it ten years ago.
An unauthorised reconfiguration can be grounds for refusing a payout: formally the damaged property is not the one insured. If you are planning a serious renovation, check our article on construction permits.
If you are still choosing an apartment, it helps to know where the buildings are newer: prices and the structure of supply by district are on the district pages, and shortlisting is in the sale search.